104 Mich. 180 | Mich. | 1895
Complainant and Lewis D. Sanborn, the son of the defendant, were married February 25, 1885. He was engaged in business in Saginaw, where his mother resided. After their marriage, they lived for some months with the defendant. It is evident that the relations between the complainant and the defendant were not cordial. From the view we take of the case, it is unnecessary to locate the’ blame. He purchased a home at a cost of about $10,000, in which they lived until the transaction hereinafter stated. They had one child, a girl, born in 1888. Mr. Sanborn committed heavy forgeries, for which he fled December 6, 1890. The defendant had loaned her son money to a large amount, stated by him to his wife to be $12,000, and claimed by the defendant to be about $15,000. On the third day before he fled he ■signed and executed a deed of all his real estate in Saginaw, including the homestead, to the defendant. The deed was drawn by his attorney, and was executed in his cffice by Mr. Sanborn. Mr. Sanborn then procured a
“ ‘ I have some papers, mother. I want to put them in your hands. Mr. Weadock wanted me to, before a witness/ I asked him what they were, and he said, You need not worry any more/”
It follows that the deed was in fact a mortgage, and the only proper remedy for the defendant was by a bill in chancery to foreclose it. She received in dividends from the vessel a sum admitted to be $1,300, after which she sold the interest for $9,000.
The decree of the court below will be reversed, and decree entered in this Court declaring the deed to be a mortgage, and that an accounting be had between the parties to determine the amount due. Upon this accounting defendant will be charged with the amounts received from the sale of the vessel, with the amounts received from the sale of other personal property, and with the value of that, if any, that she has not sold, but used, and also with the rents and payments received. She will be allowed the actual amount of money due from her son at the date of the deed, but not for any sum which she afterwards loaned him. She will also be allowed for taxes and repairs, and for the amounts paid upon a prior mortgage upon the property. Complainant will be given one year within which to redeem, during which time she will be entitled to the possession of the homestead. Under the statute, no sale could be had until the expiration of a year after filing the bill. It is therefore equitable and right that she should have the time to redeem that the statute gives. If complainant redeems from the decree when entered, she will be entitled to an assignment of the decree to her. If she fails to redeem, the premises will be sold under the usual notice to be provided for in the decree.